Sales Snap Back in Ametek's First Quarter as Industrial End Markets Improve
We’re raising our fair value estimate for narrow-moat Ametek to $51 from $47 per share following strong first-quarter results. We added about $1 for time value of money and better-than-expected organic revenue growth across Ametek’s portfolio, while the remainder came from lowering our U.S. federal statutory tax rate assumption to 25%, consistent with Morningstar’s belief that U.S corporate tax reform is likely in 2018.Revenue increased nearly 7% year over year to $1.01 billion in the quarter,...
AMETEK is a manufacturer of electronic instruments and electromechanical devices. Electronic Instruments operating group is engaged in the design and manufacture of analytical, test and measurement instruments for the process, aerospace, medical, research, power and industrial markets. This segment includes process and analytical instrumentation markets and products, and aerospace and power instrumentation markets and products. Electromechanical operating group is engaged in supplying automation solutions, thermal management systems, metals and electrical interconnects. This segment includes automation and engineered solutions markets and products; and aerospace markets and products.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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